The much-anticipated decentralised energy trading exchange deX from GreenSync has officially opened for business. Solar Analytics has jumped onboard as a technology integrating partner, and we're excited for what lies ahead.
Well first of all, they are all decentralised energy sources. A decentralised energy source differs from more traditional forms of energy (coal generators, hydro power stations) as it is not located in one, centralised location. Decentralised energy sources are spread out, and include biomass, residential solar and home storage solutions. Australia faces an important challenge with the rise of these cleaner decentralised technologies - our grid wasn’t originally built for this kind of distribution.
The Decentralised Energy Exchange is software built using an API to combat this very issue. An API is essentially a code that can pull data from somewhere else based on a criteria. For example, when you search on SkyScanner for the cheapest flight, APIs work to compare your travel information (departure date, destination, number of passengers) with available flights from various third-party sources. In the case of the deX API, it builds a virtual marketplace for electricity - tracking where electricity transactions occur, the costs associated with these interactions and the location and size of various distributed energy sources (such as rooftop solar).
As a technological integrating partner of the Decentralised Energy Exchange,we are aiming to integrate the deX API into our current Solar Analytics dashboard software. Not only will this allow us to further build on our existing dashboard experience, but also gives our users the opportunity to participate in the dEX marketplace.
We were thrilled to be able to attend the deX official launch recently in Melbourne.
The deX marketplace has also partnered with other associated stakeholders include energy retailers, equipment manufacturers and electricity networks. Some of the biggest names in the energy industry are partners - including AGL, Tesla and Enphase. The aim is for all of the partner companies participating in the project to come together to build Australia’s first comprehensive energy marketplace.
Some of the marketplace’s main features include allowing solar owners to sell their excess solar to the highest bidder, and enabling energy companies to use data on decentralised energy use to better understand where the grid is under pressure and invest in new infrastructure accordingly. All in all, deX aims to make energy more affordable, reliable and renewable through utilising decentralised energy to its full potential. We’re thrilled to be part of this disruption to the way we interact with energy.
Find out more: Visit the deX website to learn more about the deX marketplace and software.